Truist Financial Boosts Bally's (NYSE:BALY) Price Target to $16.00

Bally's (NYSE:BALY - Get Free Report) had its price objective increased by investment analysts at Truist Financial from $14.00 to $16.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 12.83% from the stock's previous close.

Several other research analysts have also recently weighed in on BALY. Wells Fargo & Company restated an "underweight" rating and issued a $10.00 price target on shares of Bally's in a research note on Friday, January 5th. Macquarie lowered Bally's from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $15.00 to $12.00 in a report on Wednesday, January 17th. Finally, Stifel Nicolaus cut their price objective on Bally's from $13.00 to $11.00 and set a "hold" rating for the company in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $15.29.

Bally's Stock Up 0.1 %

NYSE:BALY traded up $0.01 during trading hours on Tuesday, reaching $14.18. 346,675 shares of the company traded hands, compared to its average volume of 488,908. The business's 50-day moving average price is $12.49 and its two-hundred day moving average price is $11.74. The stock has a market capitalization of $568.48 million, a P/E ratio of -4.10 and a beta of 2.08. Bally's has a 1 year low of $7.28 and a 1 year high of $18.66. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 5.73.

Bally's (NYSE:BALY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.31). Bally's had a negative net margin of 7.05% and a negative return on equity of 17.92%. The company had revenue of $611.67 million for the quarter, compared to analysts' expectations of $626.62 million. Analysts predict that Bally's will post -3.73 earnings per share for the current year.

Institutional Trading of Bally's

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Bally's by 5.7% during the third quarter. Vanguard Group Inc. now owns 1,744,829 shares of the company's stock valued at $22,875,000 after purchasing an additional 93,681 shares during the period. Trexquant Investment LP bought a new position in shares of Bally's in the third quarter worth about $358,000. Rathbones Group PLC bought a new position in shares of Bally's in the third quarter worth about $8,163,000. AQR Capital Management LLC boosted its stake in shares of Bally's by 8.8% in the third quarter. AQR Capital Management LLC now owns 334,440 shares of the company's stock worth $4,385,000 after acquiring an additional 27,003 shares during the period. Finally, Strs Ohio boosted its stake in shares of Bally's by 96.8% in the third quarter. Strs Ohio now owns 24,600 shares of the company's stock worth $322,000 after acquiring an additional 12,100 shares during the period. Institutional investors own 70.41% of the company's stock.

Bally's Company Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.